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Struck by Lightning: How businesses can become more resilient

Fires resulting from lightning strikes cause 3% to 5% of all U.S. commercial property insurance claims, accounting for billions annually in covered payouts to small and medium-sized businesses (SMBs), according Triple-I and the LPI. See also: Facts and Statistics: Lightning.

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Auto Insurance What you need to know about distracted driving

Avoiding distractions can increase safety and lower your insurance costs. Any activity that pulls a driver's focus away from operating the vehicle is considered distracted driving. See also: Background on: Distracted driving and Facts + Statistics: Distracted driving.

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I.I.I. Glossary

FACULTATIVE REINSURANCE- A reinsurance policy that provides an insurer with coverage for specific individual risks that are unusual or so large that they aren’t covered in the insurance company’s reinsurance treaties. This can include policies for jumbo jets or oil rigs. Reinsurers have no obligation to take on facultative reinsurance, but can assess each risk individually. By contrast, under treaty reinsurance, the reinsurer agrees to assume a certain percentage of entire classes of business, such as various kinds of auto, up to preset limits.

UNEARNED PREMIUM- The portion of a premium already received by the insurer under which protection has not yet been provided. The entire premium is not earned until the policy period expires, even though premiums are typically paid in advance.

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Struck by Lightning: How Businesses Can Become More Resilient – Triple-I and LPI

Media Contact: Loretta Worters, Insurance Information Institute (Triple-I), 917-208-8842; lorettaw@iii.org    NEW YORK, April  29, 2024 – Fires resulting from lightning strikes cause 3% to 5% of all U.S. Read More

AF Group Joins Triple-I as Its Latest Member

For Immediate Release New York Press Office: Loretta Worters, 917-208-8842, lorettaw@iii.org   NEW YORK, April 15, 2024— AF Group has joined the Insurance Information Institute (Triple-I) as its most recent member. Read More

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Events Calendar

2024 CAS Spring Meeting
May
05
2024
Triple-I Chief Insurance Officer Dale Porfilio will be speaking at the CAS Spring Meeting on a general session on legal system abuse and social inflation. Join the 2024 CAS Spring Meeting which is being held May 5-8, 2024 in Atlanta, GA. Checkout event website.
RISKWORLD 2024
May
05
2024
Join RISKWORLD 2024 at the San Diego Convention Center which is being held May 5 - May 8, 2024 in San Diego, CA. Checkout event website.
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